The global building information modelling (BIM) market features a fairly competitive landscape with the presence of a large number of emerging players and several prominent players, observes Transparency Market Research (TMR). Some of the leading players are AECOM, Bentley Systems, Incorporated, Dassault Systemes S.A., Autodesk, Inc., and Dish’s Wally. Some of the top emerging players are Nemetschek Group and Synchro Software Ltd. Several players are launching scalable and affordable BIM solutions to meet the needs of small and medium-sized enterprises (SMEs) in order to gain a competitive edge over others.
The global building information modelling market stood at of US$2.7 bn in 2014 and is expected to reach a valuation of US$11.5 bn by 2022. The market is projected to rise at a significant CAGR of 19.1% from 2015 to 2022.
North America to Emerge as Dominant Region through Forecast Period
North America held the major share in 2015 and is projected to maintain its lead throughout the forecast period attributed to the wide adoption of integrated cloud-based solutions by the construction industry in various developed nations. The opportunities in the regional market is expected to surge to US$4.05 bn by the end of the forecast period.
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Based on end user, the BIM market is segmented into end-users, architects, contractors, engineers, and developers. Among these, architects constitute the major end user segment and is projected to dominate throughout the forecast period. The substantial demand for BIM solutions among architects is driven by rapidly burgeoning engineering and construction projects.
Concerted Government Support in Developing and Developed Nations to Bolster Uptake
The demand for improving productivity and competitiveness in the architecture, engineering, and construction industry is a key factor driving the adoption of building information modeling. The benefit of BIM solutions to simplify the complexity of various construction projects has led to its extensive adoption in various developed markets such as the U.S. and the U.K.